Gold moves at a steady boring clip
Gold remained indecisive within its ten-day tight range on Monday, unable to close above $2,650 despite Friday’s upbeat US jobs data and the recent geopolitical turmoil in the Middle East and South Korea.
Technically, the safe-haven metal survived another drop below its 20-day simple moving average (SMA) at $2,630, but downside risks have not evaporated yet.
For a clear bullish signal, the price must re-enter its broken broad bullish channel above the 50-day SMA and the resistance line at $2,680. In this case, the recovery phase could extend to $2,710 or even to $2,750. Then, if the all-time high of $2,789 proves easy to pierce through, the bulls could target the $2,810 area.
On the flip side, if the price closes below $2,630, support could immediately come around $2,590-$2,600. The $2,450-$2,555 territory could prevent an aggressive downfall toward the $2,483-$2,500 region.
In summary, gold is in a neutral mode ahead of a busy period of central bank meetings and uncertain geopolitical developments and could retain the status quo unless the price jumps above $2,680 or falls below $2,630.
.jpg "Gold moves at a steady boring clip")
Pound Steadies as Markets Await Key US Data
Risk appetite firms up as investors anticipate softer US data
USDCAD steadies as markets brace for US jobs report impact
Pound in Focus Ahead of UK Retail Sales as Majors Brace for Data | 5th September 2025
Ahead of NFP: slowdown, but still growth in the US labour market
Bitcoin is too cautious, XRP is more relaxed
USD/JPY in Equilibrium as Volatility Rises
